No agreement has been signed by the Government with other countries relating to FDI in Defence sector. However, in pursuance to the Inter-Governmental Agreement between India and Russia signed in February 1998, a Joint Venture Company, BrahMos Aerospace, between the Defence Research & Development Organisation (DRDO) of India and NPO Mashinostroyenia of Russia has been formed for design, development, production of a Supersonic Cruise Missile.
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